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Finance Process Automation at a Major Workforce Management Firm

Why struggle with your Accounts Processes when we can help you automate

Our finance and accounting automation bot will help you automate your invoice processes in total, end-to-end from the point an invoice enters your finance system till it gets paid. Standardising all the non-standard invoices (.docx, .xlsx, .pdf, .tiff, etc.) on a weekly, monthly and quarterly basis is highly resource intensive and challenging, potentially leading to wasted resources, frustration, errors – thousands of pounds down the drain.

THE CHALLENGE

Invoice processing at any finance function can be labour intensive and onerous. It was not any different at our customer, who is a major workforce management firm working closely with high-flying individuals crafting their career journeys. Although, they had an invoice management software, there was lot of manual, time intensive activities that needed to be done beforehand – resulting in the finance team being occupied with mundane, repetitive tasks. They needed to quickly fix this menace to improve cash flows and reduce daily sales outstanding.

OUR APPROACH

The objective was to deliver a fully automated solution for their invoice processing activity and relieve the finance team of mundane tasks that were negatively impacting productivity and morale. Our approach was to develop a solution that required very minimal manual intervention making the invoice process seamless from the moment contractors/vendors/partners submitted their invoices for payment.

Design-led creative workshops helped us map out the various user journeys and the approval tasks performed by users throughout the journey, so we can re-engineer the underlying processes for automation. The proposed RPA solution went live in 2 months and this automated thousands of formerly manual updates. We are now working very closely with the customer to bring in enhancements to the RPA solution that is in place to reduce exception handling that requires manual intervention.

RESULTS

Our RPA solution helped the customer improve overall invoice quality, reduce process times, and most importantly free up bandwidth for the finance department to focus on big picture corporate initiatives.

  • 98.5%

    First time accuracy achieved

  • 30%

    Increase in employee productivity

  • 95%

    Financial process compliance attained

  • 45%

    Reduction in PO to invoice matching time

  • Let's talk

    London

    Vantage London
    Level 5 Great West Rd
    Brentford TW8 9AG
    United Kingdom

    (+44) 020 3813 1944